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This paper aims to measure the extent of digital financial inclusion (DFI) and examine the effect of socioeconomic characteristics on using government remittances and the adoption of digital financial services (DFS) during the COVID-19 pandemic.

The World Bank Global Financial Inclusion (Global Findex) database 2021 is used in this study, with a sample size of 3,000 Indian individuals. The study measured the demand-side analysis of DFI, namely, accessibility and usage of DFS with selected socioeconomic characteristics such as gender, age, income, education, being in the workforce and residential status of respondents. The dependent variable is binary in nature; therefore, the logistic regression model is used for the data analysis.

The results of the study reveal that individuals’ socioeconomic factors, such as female, all the age groups, tertiary education, third- and fourth-income quintile and workforce, are found to have a significant association with “accessibility,” an exogenous variable of DFS. Besides, respondents’ socioeconomic attributes, namely, female, tertiary education, income for all quintiles and workforce, are more likely to use DFSs in the COVID-19 pandemic. The study also finds the residential status of individuals is influencing the accessibility and usage of DFS.

The findings of the study provide valuable insights to the service providers and policymakers regarding the rapid expansion of DFS by digital infrastructure, simplifying the banking procedures and highlighting the importance of digital financial literacy to accomplish government goals through serving the unbanked population and also design strategies for achieving the objectives of Digital India: “Faceless, Paperless, and Cashless” of DFI across the country.

Notable studies used World Bank Findex survey data to explore the determinants of financial inclusion in general. This research is one among the few studies to explore the determinants of India’s DFI. Moreover, this study measured the effect of individual socioeconomic attributes on the adoption of DFSs during the COVID-19 pandemic, which has not been included in prior studies. Therefore, this study has added value to the existing literature on financial technology innovation and DFS for the sustainable development of emerging nations.

The study attempts to explore the determinants of financial inclusion. Subsequently, it examines the effect of financial inclusion on financial well-being of marginalized street vendors in India.

The demand-side analysis of measuring financial inclusion with a sample of 371 marginalized street vendors is adopted. Both exploratory and descriptive research designs are employed in this study. The primary data collection is done by administering the structured interview schedule by using a convenience sampling technique. Confirmatory factor analysis (CFA) and structural equation modeling (SEM) are performed to describe the latent constructs and their hypothetical relationships with adequate empirical evidence.

Out of five dimensions of financial inclusion considered for the study, accessibility, availability, usage and affordability are found to be significant determinants of financial inclusion; however, the financial literacy dimension is found statistically insignificant. Further, the study results confirm that financial inclusion contributes substantially to the well-being of marginalized street vendors.

The outcome of the study will facilitate all the stakeholders including policymakers and financial institutions to enact policy guidelines to ensure financial well-being of the marginalized street vendors through financial inclusion initiatives.

Financial well-being through financial inclusion is possible even without the effect of financial literacy from the unorganized sector perspective specifically marglianized street vendors. Thus, it adds new dimension to the existing literature on demand side analysis of measuring financial inclusion.

The purpose of this paper is to provide an insight into the determinants of the customers’ attitude and behavioural intention to use Internet banking services, paying special attention to the role of perceived risk, trust, enjoyment, website design and social influence.

A research model grounded on the technology acceptance model (TAM) reflecting the effects of trust, perceived risk, perceived enjoyment, perceived website design and social influence on TAM constructs is proposed. The structural equation modelling technique is used to analyse a sample of 697 individual Internet banking users in India through an online survey.

The results of data analysis confirm some of the hypotheses drawn from the literature. Consistent with some of the other studies, perceived usefulness, perceived ease of use, trust and perceived enjoyment are found to be immediate direct determinants of customers’ attitude towards using Internet banking. Attitude, perceived risk, perceived enjoyment and trust determine the customers’ behavioural intentions to use Internet banking. Although the direct effect of perceived website design is significant only on perceived ease of use, its indirect effects are significant on perceived usefulness, attitude and behavioural intentions. Furthermore, perceived enjoyment exerts both direct and indirect effects on perceived usefulness but exerts only direct effect on perceived ease of use.

Generalizability of the research is a practical limitation in consumer research studies and the present study is not an exception to that. The current study focused only on some technological, behavioural and attitudinal factors, and many customer-specific factors and other psychographic and behavioural factors such as cost, perceived value, service quality and satisfaction, which can provide more significant insight into the adoption process, are not a part of the scope of the study.

This research specifies the implications in three perspectives, viz., theoretical, methodological and managerial. Furthermore, this study provides the practical recommendations to enhance customer trust and guidelines to reduce perceived risk. The most significant implication for the banking sector is that apart from offering useful and user-friendly services, they need to build a trusting relationship with customers.

This study extends existing body of Internet banking literature by incorporating trust and risk perceptions. The effects of website design and perceived enjoyment on Internet banking acceptance have been examined and were found to be significant in the Indian context. In addition, it enables us to contribute to the current literature on the emerging Indian Internet banking services (IBS) market, which is largely under-researched.